"MasterCard, Keycorp Offer Low-Cost Contactless Cards The Asian Banker Nov 27 2006 : MasterCard has teamed up with Australian smart card technology firm Keycorp to launch a low-cost contactless card for issuers in Asia/Pacific, Middle East and Africa.
The MasterCard PayPass M/Chip 4 Combi Card is a dual-interface smart card that costs USD2.99 per card. It contains both contact-based (ISO7816) and contactless (ISO14443) chip payment applications and runs on the MULTOS multi-application smart card operating system. "The overall card price is about 20 percent cheaper than the latest prices in the market," Richard Cusson, Keycorp's General Manager, Smart Card Technologies, tells epaynews. The EMV-compliant card combines MasterCard credit, debit and ATM card functions, as well as a MasterCard Cash stored-value account. MasterCard says issuers can choose which functions to activate on the card, which can also be used to store loyalty points or e-tickets. The card is already available and can be ordered from Keycorp, which designed the product, using chips from German microprocessor vendor Infineon. Keycorp says it will guarantee the card's USD2.99 price for three years in order to encourage mass-market take up of MasterCard PayPass dual-interface cards."
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